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Compumedics Limited ( (AU:CMP) ) just unveiled an announcement.
Compumedics Limited has secured a significant contract worth $1 million for its Somfit device with a leading pharmaceutical Contract Research Organisation in the USA. This sale is part of Compumedics’ strategy to expand beyond the home sleep testing market into pharmaceutical clinical trials, leveraging Somfit’s ability to directly track brain signals for accurate sleep architecture analysis. The contract highlights the company’s strong growth in the USA, with sales orders reaching $12 million this year, a 130% increase from the previous year. Compumedics anticipates continued growth, projecting sales orders over $60 million for FY25, although revenue and EBITDA expectations have been adjusted due to the rapid business expansion.
More about Compumedics Limited
Compumedics Limited is a global medical device company that develops, manufactures, and commercializes diagnostic technology for sleep, brain, and ultrasonic blood flow monitoring applications. Founded in 1987, the company has expanded its international reach through subsidiaries such as Neuroscan in the US and DWL Elektronishe GmbH in Germany, serving markets across the Americas, Australia, Asia Pacific, Europe, and the Middle East. Compumedics is known for its innovation and has received numerous awards, including Australia’s Exporter of the Year.
Average Trading Volume: 95,231
Technical Sentiment Signal: Sell
Current Market Cap: A$54.78M
For detailed information about CMP stock, go to TipRanks’ Stock Analysis page.